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European Stocks Advance on Improved Earnings

This article was posted on Jul 19, 2011 and is filed under Market News

European stocks gained, rebounding from a seven-month low, as companies from Novartis AG (NOVN) to International Business Machines Corp. reported earnings that beat estimates. U.S. index futures rose while Asian shares fell.

Novartis, Europe’s second-biggest drugmaker by sales, climbed 2.6 percent. Technology companies rallied in Europe after IBM’s boosted its forecasts. Electrolux AB (ELUXB), the world’s second-biggest appliance maker, plunged 10 percent as profit trailed projections. For more visit: Bloomberg.com

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